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« Options for solo travelers, from the Los Angeles Times | Main | Silver lining for solo travelers in all this economic mess, says Budget Travel »

October 27, 2008



I think this is a brilliant idea! My grandparents, who lived through the Depression, always used layaways over credit cards. They were smart. As you know, layaway programs went away with the rise in use of credit cards--and look where that got us. It makes much more fiscal sense to pay out money you have actually earned already than to borrow money on the assumption you will earn enough in the future to pay it back. The country has finally learned this lesson the hard way. Any industry revolving around luxury items should be looking at this right now just to keep some money coming in the door. Layaway is a win-win.


Interesting points about layaway versus credit card debt. Thank you.


Hi, Ellen,

Did you see the article by Jane Engle in the 12/8 Chicago Tribune called "Layaway plans gain traction in the travel industry"? You're ahead of the curve!

She raised a good point I hadn't thought about, like what if you get 2/3 through paying for your vacation and the company goes bankrupt? (Something I don't think my grandparents worried about when they were buying a new TV through Sears.) If you've paid cash, you may be up the proverbial creek. So it might be a better idea just to save the money yourself and buy the vacation in full after all.



Thanks for the heads up. Scoops R Us, here at boldlygosolo.

I agree there's a risk. It's not my cup of tea. I'd rather save the money myself. Same reason I never partook of Christmas club savings accounts at banks. But some people need to get the money out of their hands in order to save it...those folks should consider what you point out.

low cost homeowner insurance

My wife and I do a couple things that work for us. We pay most everything via credit card b/c we get airline miles. We pay it off every month so you have to be very disciplined. Second we round up anytime we have to write a check or use debit and save the change that way. You'd be amazed how much accumulates.


Thanks for the ideas!

St. Maarten Condo

If i am planning a vacation that needs a lot of money i rather not to go this year so that the money that i will spend this year,i will spend it next year.


Cruise Deals

Sounds like a nice idea, I keep on working ond studying and when the summer comes there is nothing left in the savings :( So It would be a great way for me to travel, I just hope I can find a reliable company to book with :) I am not a fan of the small print hehe


Yes, I would certainly read the small print carefully!

st maarten vacations

I've read some tips on a cheap vacations. A staycation. If you're out of money, you can still have fun and rest on vacation. Bring a party on your house or just play with your kids or relatives.



We always plan vacations several months ahead, pay our deposit, pay the balance in 2-3 installments. We deal with the more reliable companies - American Airlines, Carnival Cruise Lines, etc.- that are less likely to go out of business. We usually save money this way because we get "early bird" savings for booking and often receive upgrades for booking early.


That sounds like a good plan for saving money. If only I could plan in advance.I'm not very good at that.

Alexa Mason

We usually plan our vacation months and sometimes years in advance. That's the best time to get Royal Caribbean cruise deals. But this article is great and full of tips on how to save some major bucks!

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